10 Biggest Financial Losers
10. Hunt Brothers: Lost an Undisclosed Amount
Hunt Brothers, William Herbert Hunt and Nelson Bunker Hunt, are most infamous because of their association with Silver Thursday. This day is observed on Thursday, 27 March 1980. A very sharp dip in the prices of silver led to widespread chaos in the commodity and futures exchanges. Hunt brothers had invested in many firms, through brokers, like - Prudential Securities , Prudential-Bache Securities and Bache Halsey Stuart Shields. All this began with the Hunt brothers buying 100 million ounces of silver coins during the ‘70s. This made silver prices sky-rocket during the ’80s. It was speculated that they held about one-third of the silver quantity of the world. The United States Commodity Futures Trading Commission fined Nelson Hunt with $10 million for trying to manipulate silver prices.

